SALT LAKE CITY (AP) -- More than 7,000 Utah residents who went through foreclosure during the recession will receive a check this month as part of a massive, national settlement.
Utah Attorney General John Swallow said Friday that the checks — which average just under $1,500 each — are a way to hold banks accountable and stop some of the mortgage servicing abuse seen during the recession.
Attorneys general from 49 states worked to negotiate a $50 billion settlement last year with the nation's five largest mortgage servicers. About $1.5 billion of that goes directly to people who lost their homes, including $10 million to Utah borrowers.
Swallow says people caught up in a wrongful foreclosure can still pursue further legal action in their cases, even if they receive a check.